attraction marketing
What is Attraction Marketing?
Marketing strategies have evolved over the years. Increasing competition has led to the formation of new and better strategies, one of them being 'attraction marketing'. Let us try to understand how this concept works.
- The first challenge is creating a product which will sell on its own merit, without competition. If there is a big multinational competing with you, their huge budget and cost advantage will simply wipe you out. So creating a product, which the people need and no one else has thought of, is quite a challenge.
- The second thing you need to do is to find a way to keep your costs as low as possible. After all, if you don't have enough capital to start off a new venture, you'll have to rejig your business plan. Without a proven sales track record, lenders too will be wary of giving you finances.
- One of the most common media channels is network marketing. You should know a lot of people and be able to make your product the center of attention. And yes, people should like it. The second channel you can use is the Internet. For that, you'll need to learn a bit of Search Engine Optimization (SEO) and know about blogging. Internet marketing has endless possibilities and a global reach. Who knows where your product will find its popularity!
- Social networking websites are also a great free marketing channel. Once you've set up your blog which will describe your products and their utility to the people who visit it, you can put the link to the blog on various social networking websites.
- Maintain good relationships with existing customers. By doing them a good turn, your customers too will endorse your products and you will get more of them.
- Keep improving. Make sure that you get the required feedback about your products from the customers. See if they are happy with your products or they'd like some changes made to them. See how you can make the product more efficient and reduce the cost of production. The quest for perfection, as they say, is endless.